Wirecard CEO Resigns After Banks Say Missing $2 Billion Doesn't Exist

The chief executive of fintech giant Wirecard resigned after two banks in the Philippines meant to be holding over $2 billion on behalf of the company said they don't have the cash and never did. 


 
Financial Services Roundup

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires throughout the day. 


 
Deutsche Bank Settles Swap Reporting Outage, Spoofing Violations

The bank has agreed to pay more than $10 million to settle two separate cases by a derivatives market regulator. 


 
Today's Irrational Stock Market: A Moment in the Sun for Technical Analysts?

Trying to predict the direction of stock prices based on the shape of lines in a chart often seems akin to reading tea leaves. In today's markets, however, so-called technical analysis may not be completely wide of the mark. 


 
Trump Nominates Caroline Crenshaw to Democratic SEC Seat

President Trump nominated attorney Caroline Crenshaw to fill a vacant seat on the Securities and Exchange Commission, the White House said. 


 
Treasury Yields Fall After Jobs Data

U.S. government-bond yields declined after data showed the number of Americans who filed for unemployment last week was higher than economists expected. 


 
U.K. Insurer Prudential Retreats From U.S. With Stake Sale

Prudential has taken a step back from the U.S. as it focuses on Asia, agreeing to sell a stake in its U.S. business to Athene for $500 million. 


 
Another German Financial Giant Falls From Grace

First Deutsche Bank had to rein in its global ambitions. Now Wirecard can't find more than $2 billion in cash. 


 
Saudi Wealth Fund to Invest in Reliance's Jio

Saudi Arabia's sovereign wealth fund has agreed to invest $1.49 billion in Jio Platforms, joining the list of big multinational firms seeking a piece of the Indian telecommunications giant. 


 
Hamilton Is Hot in Europe (The Debt Policy, Not the Musical)

European Union leaders are talking about jointly issuing hundreds of billions of euros in debt to recover from the coronavirus crisis, and to some fans of American history, it looks a lot like what Alexander Hamilton proposed in 1789.